Abstract
Universities pays a lot of attention and investment in the technology commercialization for its sustainable development and social contribution under Korean government-driven policies. However, when compared to US or European universities, the outcomes of the technology commercialization in universities are relatively inactive. Therefore, this study aims to propose a new idea-oriented framework of University-Technology Commercialization (UTC). To achieve this, this study explores the sustainable mechanism from idea to technology commercialization in the volatile environment by employing dynamic capabilities framework. This study employed structural equation modeling (SEM) to identify causal relationships among the variables with a 2014 to 2016 dataset from ‘Higher Education in KOREA’. This study collected national and cross-sectional data from different time periods to design our longitudinal study. Our study examines UTC activities related to sustainable idea development mechanism from dynamic capability framework. The results show the importance of start-up clubs as a first step for idea exploration in university technology commercialization and patents as important for both technology transfers and start-ups. Our findings offer new UTC directions for university policy makers.
Highlights
What is the causal relationship between the main activities of the universities in the University-Technology Commercialization (UTC) process? This study empirically examines the causal relationships among specific university activities and outcomes of UTC, such as technology transfers and start-ups, with a longitudinal dataset
Regarding RQ1, this study identified the importance of start-ups clubs in universities to explore the initial idea for UTC
Universities should provide entrepreneurship mentoring program, marketing of products and services developed by the club, media releases and legal support as well as financial and material supports to encourage start-up clubs [78]
Summary
Many research-oriented universities have become more proactive in their efforts to commercialize innovative knowledge and technologies [2]. Carayannis and Dubina [1] proposed two basic technology commercialization models: (1) a license agreement with an existing firm that is interested in new research and technology, and (2) start-ups using the university’s IP. A university commercializes a technology through the licensing of an IP to a large firm, which eventually develops the IP into a commercial good [3,4]. Some universities including Massachusetts Institute of Technology (MIT) routinely commercialize their technology through start-ups [7]. This trend demonstrates the university’s effort toward alternative commercialization to enhance sustainable revenue in the IP market [8]
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